There we go again! The general expectation was that price would likely retest or trade toward the prior “spike-reversal” August low and the last few trading days have set that swing in motion to the lows.

“The 1,900 level is the weekly focal point as the market is poised likely to repeat the 2010 and 2011 similar example where price stabbed lower, bounced into a retracement, and then made one more new index low before bottoming and reversing higher.”